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NGAS

Natural gas: Topped here possiblyI think the rally in natural gas has topped out here, we gapped down and dropped back under the resistance to the left in the weekly chart here. My real time whatsapp signals group entered shorts at today's open, and are adding to it now. Let's see if we get a nice move to the downside here. If not in you may join with stops above today's open at least. Check out my updated track record here: pastebin.com If interested in my swing trading signals newsletters, real time whatsapp alerts, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year. Cheers! Ivan Labrie Link to Tim West's chatroom: www.tradingview.com We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask. Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
FX:NGASShort
by IvanLabrie
3
NGN2016Haven't posted a natty count in a while. While the bearish count target for wave (v) of 5 is unchanged, wave (iv) did come significantly higher than I anticipated. Credit to the experts at www.ElliottWaveTrader.net for giving me the idea to consider the bullish alternative shown in green. The structure of green wave i of (iii) through April isn't quite to my liking, but its worth consideration. I've been excited about potential for natty to complete its long term correction - and have warned in previous ideas about shorts overstaying your welcome - so I'm prepared to start looking at long entries IF support holds and impulsive waves form off intermediate lows. I'm currently short UNG 7 puts expiring in July, small position.
NYMEX:NGN2016Short
by nick.holland78
NGAS testing long-term bearish trend lineNot an asset I would recommend to trade given it's highly volatile nature, but I find this chart interesting. Last Friday's high (27/05/16) allows us to establish a trend line starting from February 2014's highs. Hard to say what might happen here, but if prices break above this trendline (resistance at $2.19) sometime in the next week or so, we'd probably see a follow through in bullish momentum with a possible target of $2.4. At around this level, prices would hit another trend line, which would perhaps be followed by a correction in the market. Any break above $2.5 would provide technical reasons to believe that natgas would have room to move higher over the medium term. This is obviously a really bullish scenario, and I suspect that prices won't just rise in a straight-line fashion if some of these resistances break. So keep in mind that if the market starts falling after failing to break above $2.19 this upcoming week, prices could very well resume their bearish trend.
FX:NGAS
by ABRAK75
3